Royal Bank of Canada Decreases Stake in Arcosa, Inc. $ACA

Key Points

• Royal Bank of Canada reduced its Arcosa stake by 92% in the first quarter, selling 41,944 shares and retaining 3,661 shares valued at approximately $389,000. Institutional investors collectively own 90.66% of ACA.
• Analysts maintain a generally cautious outlook, with three Buy ratings and four Hold ratings. Arcosa has an average rating of Hold and an average price target of $141.25.
• Arcosa’s latest quarterly results fell short of expectations: earnings per share came in at $1.13 versus $1.18 expected, while revenue declined 10.6% year over year to $658.7 million.

Royal Bank of Canada cut its holdings in shares of Arcosa, Inc. (NYSE:ACA - Free Report) by 92.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,661 shares of the company's stock after selling 41,944 shares during the quarter. Royal Bank of Canada's holdings in Arcosa were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. State of Wyoming acquired a new position in shares of Arcosa during the 1st quarter worth approximately $30,000. GHP Investment Advisors Inc. acquired a new stake in shares of Arcosa in the first quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its position in Arcosa by 73.4% during the fourth quarter. Farther Finance Advisors LLC now owns 307 shares of the company's stock worth $33,000 after buying an additional 130 shares in the last quarter. Allworth Financial LP lifted its position in Arcosa by 392.5% during the fourth quarter. Allworth Financial LP now owns 394 shares of the company's stock worth $42,000 after buying an additional 314 shares in the last quarter. Finally, Quarry LP boosted its stake in Arcosa by 160.0% during the third quarter. Quarry LP now owns 403 shares of the company's stock worth $38,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company's stock.

Wall Street Analysts Forecast Growth

ACA has been the subject of several analyst reports. Weiss Ratings upgraded Arcosa from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Wall Street Zen upgraded Arcosa from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Stephens set a $150.00 price target on shares of Arcosa in a research report on Thursday, August 6th. Oppenheimer lowered shares of Arcosa from an "outperform" rating to a "market perform" rating in a report on Friday, June 26th. Finally, Citigroup cut shares of Arcosa to a "hold" rating in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Arcosa presently has an average rating of "Hold" and an average target price of $141.25.

Arcosa Stock Up 0.1%

ACA stock opened at $145.45 on Thursday. Arcosa, Inc. has a one year low of $89.03 and a one year high of $146.92. The firm has a market cap of $7.14 billion, a PE ratio of 14.57, a PEG ratio of 2.18 and a beta of 1.05. The firm's 50 day moving average price is $144.68 and its 200-day moving average price is $127.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.31 and a current ratio of 3.12.

Arcosa (NYSE:ACA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). The business had revenue of $658.70 million during the quarter, compared to analysts' expectations of $687.50 million. Arcosa had a return on equity of 7.90% and a net margin of 17.90%.The company's revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, equities research analysts anticipate that Arcosa, Inc. will post 4.16 EPS for the current year.

About Arcosa

Arcosa, Inc NYSE: ACA is a Dallas‐based industrial company that was formed through the spin‐off of Trinity Industries' construction products business in 2018. Since its inception, Arcosa has focused on the manufacture and sale of critical infrastructure components, serving a diverse set of end markets including transportation, construction and energy.

The company's Construction Products segment produces a broad range of highway safety products, such as guardrail systems, sign supports and crash cushions, as well as aggregates and ready‐mix concrete.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source